Browsing Category
Economy
Chief economist of the World Bank says that Britain’s stagnation is similar to France.
Indermit Gil says that tax burdens are reaching record levels, and the state is bloated.
According to the World Bank's chief economist, Britain's bloated government has caused the country to look more like France rather than America.…
Bank of England raises alarm over private equity sector
Bank of England warns that mounting pressure on the £6.5 trillion (£6.5 billion) private equity sector could lead to a crunch, which would cause banks to suffer large losses and trigger a crisis in the real economy.
Regulators are…
The disappointment of a 3.2% inflation rate as the hopes for rate reductions fade
The Bank of England is more likely to delay cutting interest rates later in the year if inflation falls slower than expected. This is due, in part, to the higher fuel prices.
According to the Office for National Statistics, the pace of…
Long-term illness is causing a record number of people to be out of work
The number of workers who are out of work due to long-term illness has risen to a new record of over 2.8 million.
Since the Covid pandemic began, economic inactivity (when an individual is not working and not seeking a job) has steadily…
The champagne bubble bursts when LVMH, owner of Moet, suffers a drop in sales
After a dramatic drop in Champagne sales, the owner of Moet & Chandon and Krug has a post-pandemic 'hangover.
LVMH, a French luxury goods company, saw its wine and spirits sales plummet 16pc to €1.4bn ($1.2bn), during the first…
Tesco employees to receive a ‘thank you bonus’ after the grocer’s profits soar
Tesco will give a "thank-you" bonus to more than 220,000 workers after the profits of the supermarket rose by nearly 160 percent last year.
The largest private employer in Britain announced that it will give out around £70 million, or…
IMF urges men to reduce benefits in order to increase employment
Mel Stride says he will 'do what it takes' when the Fund calls for radical measures to combat unemployment
The International Monetary Fund has urged Britain and other wealthy nations to reduce benefits and taxes in order to combat the…
First time in decades, the biggest oil discovery to come out of the North Sea will be drilled
A UK energy firm is about to begin drilling in the largest oil field found in the North Sea for at least 20 Years despite a crackdown of net zero on the industry.
EnQuest has plans to bring on two fields that have the capacity to produce…
Rain is bad news for Dune retailers, but consumers flock to the cinema instead
The wet weather dampened the enthusiasm of shoppers, and the increase in non-essential spending such as clothing was only 1.6%. This is the lowest rise since September 2012.
Barclays data shows that in-store retail sales, excluding…
JP Morgan CEO: Global economic risks could be greater than anything since the Second World War
JP Morgan , the boss of a US bank, has warned the world that it could be in the midst of the most dangerous time since the Second World War. This would put lives at risk and threaten economic growth.
Jamie Dimon, in his letter to…
Retail insolvencies increase 19% as businesses feel squeeze
Retail insolvencies have risen sharply as businesses are feeling the effects of rising interest rates, higher costs and cautious spending by consumers.
According to Mazars the audit, tax, and advisory firm, 2,195 retail outlets collapsed…
UK investors take advantage of Wall Street bull market
Calastone, a data specialist, says that British investors are choosing to invest in US-listed companies over UK stocks.
Investors withdrawn a net £823million from UK funds in February, the highest amount since last February. This was the…
Retailers suffer longest dip in sales since Covid pandemic
A survey shows that retail sales have fallen for the past six months and then again in March. This is the longest run of declines outside the Covid-19 pandemic.
The survey conducted by BDO, an independent consultancy, revealed that total…
Bank of England warns that private equity binge could trigger financial crisis
The Bank of England warned that the private equity industry poses a threat to financial stability, as it launched a review of this $8 trillion ($6.3 trillion) sector.
Officials are worried about the value assets such as commercial…
Focusing on consumers can give China an extra $3.5trn.
The International Monetary Fund said that China's economy could grow by $3.5 trillion over the next 15 year if its policy is reoriented to focus more on consumers.
Kristalina Georgeeva, managing director of the IMF, stated that China is…
Bank of England: Delaying interest rate reductions will weaken the UK economy
A report warns that the UK economy is headed for a slow recovery after the recession, and the Bank of England may compound this weakness by maintaining interest rates at an unsustainable level for too long.
KPMG predicts that the economy…
British homes are smaller, older and more expensive than those overseas
A report says that Britain's housing is "expensive and cramped" with an ageing population. It offers the lowest value for money among advanced economies.
According to a study by Resolution Foundation, people in England live in smaller…
Insurance premiums are soaring, giving the Treasury a windfall in tax revenue
The rapid increase in premiums for car, pet and home insurance has brought the government a windfall worth more than £8billion.
HM Revenue & Customs reports that with one month remaining in the 2023-24 fiscal year, insurance tax…